bank rates

Mortgage Rates Plunge To Record Lows

The financial crisis in Europe has had the unexpected effect of pushing mortgage rates in the United States to record lows.

The financial crisis in Europe has had the unexpected effect of pushing mortgage rates in the United States to record lows.The average cost of a 30-year fixed-rate mortgage fell to 4.96%, and the average rate for a 15-year, fixed-rate loan dropped to 4.34% in Bankrate’s most recent survey of major lenders.

Those are the cheapest they’ve ever been since the survey began in 1985.

As a result, you can find lenders such as AimLoan.com offering 30-year fixed-rate mortgages for as little as 4.625%, and 15-year loans for 4.00%, with no points.

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